30 Year Fixed Mortgage Rates Threatening All Time Lows
By: Ed Ferrara
current mortgage rates
Current mortgage rates are threatening all time lows set this April when 30 year fixed mortgage rates averages under 4.8 percent according to Freddie Mac.
The benchmark 10 year treasury yield took another dip today, this time moving under 3.295, the yields recent low point reached on June 10th, to 3.29. If the benchmark yield, the leading indicator for 30 year fixed mortgage rates, dips below 3.289, it will be at a near 4 month low.
Current 30 year fixed mortgage rates.
- Zillow – Current 30 year fixed mortgage rate, national average – 4.89 percent
- Freddie Mac – Latest report is last week’s, average 30 year fixed mortgage rate - 5.04 percent
Real Current Mortgage Rates
FreeRateUpdate.com research of wholesale lender’s current mortgage rates shows 30 year fixed mortgage rates at 4.75 percent at par. Current 30 year fixed mortgage rates are very near the April lows which set all time record lows. Secondary market conditions, primarily the prices of Residential Mortgage Backed Securities are more ideal for low mortgage rates then they were back in April when the yield was ridiculously low. If the yield is to dip to that level again we could see 30 year fixed mortgage rates at 4 percent flat. Wow, wouldn’t that be something?
Current 15 year fixed mortgage rates are as low as 4.25 percent at par. 15 year fixed mortgage rates are not recommended unless you have lots of cash on hand. We’re talking enough cash to pay off your mortgage if you wanted to. 5/1 ARM mortgage rates are as low as 3.75 percent.